Fiber Drums Market has witnessed substantial growth in the past couple of years. Fiber Drums are cardboard-based drums used for transportation and storage of material. They are available in a variety of sizes. The demand for cardboard barrel is increasing as it is lightweight and durable and can be easily opened. Fiber drums are recyclable, which has further increased their market demand. In the last few years, there has been a rise in the need for fiber drums that are widely used for the storage and transportation of chemicals & fertilizers, food, agricultural products, plastics, and other products. 

The Global Fiber Drum Market size was valued at USD 800 Billion in 2018, which is expected to witness 5.8% CAGR during the forecast period.

Segmentation:

The global fiber drum market has been segmented based on closure type, capacity, end-use industry, and region. The global fiber drum market is segmented by closure type as metal closure, plastic closure, and fiber/cardboard closure. Due to higher strength and durability, the metal closure segment held the largest market share of the global fiber drum market in 2018; it is expected to have the highest growth during the forecast period. The global fiber drum market is segmented by capacity as up to 25 gallons, 26–50 gallons, 51–75 gallons, and above 75 gallons. The 51–75 gallons segment held the largest market share of the global fiber drum market in 2018. This growth can be attributed to the increasing use of fiber drums included under this segment in the food & beverage industry.

Regional Analysis:

The Global Fiber Drum Market has been segmented into five regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. In 2018, the market in Asia-Pacific was the largest market for cardboard drums, followed by North America and Europe.